N.Y. Debtor and Creditor Law § 272 : Debtor And Creditor — Fraudulent Conveyances — Fair consideration

10 Feb 2014

Current through 2016 New York Laws, Chapters 1 to 237

Fair consideration is given for property, or obligation,

a. When in exchange for such property, or obligation, as a fair equivalent therefor, and in good faith, property is conveyed or an antecedent debt is satisfied, or b. When such property, or obligation is received in good faith to secure a present advance or antecedent debt in amount not disproportionately small as compared with the value of the property, or obligation obtained.
N.Y. Debt. and Cred. Law § 272